News
Lanka and ADB sign USD 200 mln loan agreement to help stabilise finance
Two policy-based loans (PBLs) have been arranged following discussions between the Asian Development Bank (ADB) and the Sri Lankan government, the Ministry of Finance said.
Accordingly, the PBLs are slated to be used for the implementation of the Financial Sector Stability and Reform Programme, in a bid to create a stable financial system that provides access to finance for businesses in various sectors of the economy.
The program adopts a programmatic modality with two subprograms of USD 200 million each, and will support the implementation of multi-year policy reforms, including immediate reforms to enhance the crisis management regulatory framework and stabilise the financial sector under Subprogram 01 and reforms to build a resilient and inclusive financial system under Subprogram 02.
The Ministry of Finance, Economic Stabilization and National Policies (MOF) have been deemed the executing agency of the above programs and will therefore implement the policy actions in collaboration with the Central Bank of Sri Lanka (CBSL) and other relevant institutions.
Since the relevant agencies have successfully achieved all pre-policy actions related to Subprogram 01, the entire USD 200 million loan proceeds relevant to the subprogramme will soon be disbursed to the Treasury, the Ministry stated, adding that the loan will be provided from ADB’s concessionary Ordinary Capital Resources with a 25-year term, including a 5-year grace period, and an interest rate of 2.0% per year.
Accordingly, the PBL agreement for Subprogram 01 was signed between the Government of Sri Lanka and the ADB at the Ministry of Finance, with K. M. Mahinda Siriwardana, Secretary, Ministry of Finance, Economic Stabilisation and National Policies, having placed the signature on behalf of the former, while Takafumi Kadono, Country Director, ADB Sri Lanka Residence Mission, placed the signature on behalf of latter.
The Cabinet of Ministers approved the resolution furnished by the Minister of Transport, Highways and Urban Development to accept 08 used low floorboard buses offered as a grant by the Government of Japan.
News
Payment of the financial subsidy for fertilizer to farmers cultivating paddy lands for the Yala season 2026.
While approval has been granted at the Cabinet meeting held on 18.08.2025 to pay the financial subsidy for fertilizer to farmers cultivating paddy lands for the Maha season 2025/26, the programme is planned to be continued for the Yala season 2026 as well.
Accordingly, the Cabinet of Ministers approved the resolution furnished by the Minister of Agriculture, Livestock, Lands and Irrigation to pay a financial subsidy of Rupees 25,000/- per hectare and for a maximum of 02 hectares per farmer for paddy cultivation and to pay Rupees 15,000/- per hectare for field crops cultivated in paddy lands[maximum of 02 hectares per farmer]
News
Ministerial Committee appointed to submit recommendations on proposed program to mitigate loss of crops to wild animals
The rural agricultural livelihood and food security have been severely impacted due to the damage caused by wild animals such as elephants, wild boars, monkeys, toque macaque, squirrels, and peacocks roaming around human habitats and cultivated lands.
Animal-human conflicts and property destruction have mostly been reported around these areas, and serious social and economic issues have also arisen.
Therefore, the Ministry of Agriculture, Livestock, Land, and Irrigation has prepared a comprehensive program based on the opinions of all stakeholders, including the public, university community, farmers’ organizations, environmentalists, non-governmental organizations which work for environmental issues, the Department of Agriculture, the Department of Agrarian Development, and other relevant organizations.
Taking into consideration the report submitted by the Minister of Agriculture, Livestock, Land, and Irrigation, the Cabinet of Ministers has decided to appoint a ministerial committee with the participation of other relevant ministers, chaired by the Minister of Agriculture, Livestock, Land, and Irrigation, to submit appropriate recommendations on how the aforementioned program should be implemented by further reviewing the proposals included in the said program and incorporating new proposals.
Cabinet nod to accept Japanese government grant of 08 used low floorboard buses
Payment of the financial subsidy for fertilizer to farmers cultivating paddy lands for the Yala season 2026.
Ministerial Committee appointed to submit recommendations on proposed program to mitigate loss of crops to wild animals
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